Legal Question in Real Estate Law in California

Assuming you have a purchase agreement signed by the seller that does not allow the seller to back out of deal if it is able to restructure the existing loan, you can bring an action for specific performance to force the seller to sell. You should take whatever documents you have to a real estate attorney in your area to discuss your rights and obligations under your purchase documents.

You can bring a suit for "specific performance" of a real-estate purchase agreement. This presumes there has been an offer and an acceptance, and there are no remaining conditions which you, the buyer, must meet, such as tender of the purchase price. A specific performance suit asks the court to order the seller to comply with the terms of the agreement, as opposed to a suit for money damages.

Both the answers you have received are correct, but whether any particular transaction would be subject to a successful specific performance or breach of contract action is very dependent on the facts and details of the situation. The only way to get a conclusive evaluation of whether you have chance of winning such a suit or not is to consult an attorney in person.